Low Keng Huat's Q3 net profit down 60%

Singapore

CONSTRUCTION and property development company Low Keng Huat's net profit for the third quarter ended Oct 31, 2018 slumped 60 per cent year-on-year to S$2.63 million on the back of lower profits from its investment segment.

Revenue fell 31 per cent to S$9.24 million in the absence of development revenue as well as lower revenue from the investment and hotel segments. The corresponding quarter a year ago saw development revenues of S$2.9 million.